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Benzinga
Benzinga
Business
Paula Tudoran

Biotech Startup Backed By Tim Draper Raises $13.5M To Extract Copper Using AI-Powered Microbes As Metal Shortage Looms

Tim Draper copper Artificial Intelligence BHP Group
Man's,Hand,Holding,A,Piece,Of,Copper,To,Examine,It

Biotech company Endolith announced on Nov. 13 that it secured $13.5 million in Series A funding, with another $3 million expected in a follow-on close, to advance its biological system that draws copper from low-grade material through engineered microbes guided by artificial intelligence.

Squadra Ventures led the round, joined by billionaire Tim Draper's company Draper Associates, Collaborative Fund, Overture Climate Fund, and additional backers. The financing came after fresh laboratory progress through work with BHP Group (NYSE:BHP) alongside early commercial traction, according to Endolith.

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